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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: Swiss FM eyes new economy stimulus plan AFP - Monday, December 29 GENEVA (AFP) - - Swiss Foreign Minister Micheline Calmy-Rey said on Sunday that new measures were necessary to stimulate the country's economy which has been forecast to plunge into recession next year. "I believe that it is necessary to have an additional economy programme with further measures that can have rapid impact," she told Swiss Sunday newspaper SonntagsZeitung. The economics ministry had earlier projected that the economy here would shrink by 0.8 percent in 2009, with a recovery not seen until 2010. The Swiss government in mid-October announced an aid package worth almost 60 billion dollars to restore confidence in the country's biggest bank UBS which has lost billions on the United States home loan crisis and the ensuing financial turmoil. A second aid package being prepared would target the construction industry as well as the export industry. Calmy-Rey said however that a further package was necessary. "There is a danger that planned economic measures are insufficient," she said. Asked for possible new measures, she pointed to suggestions put forward by parliamentarians for the government to return a 4.6-billion-franc budget surplus (4.3 billion dollars, 3.05 billion euros) to residents through increased social spending and through a waiver of health insurance charges for children. "Several ideas that have been put forward make sense, especially those that are targetted at stimulating our domestic economy," she said. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Enlarge Photo Swiss Foreign Minister Micheline Calmy-Rey said on Sunday that new measures were necessary to stimulate the country's economy which has been forecast to plunge into recession next year. Most Popular – Top Stories Viewed Actress Jennifer Aniston appears naked in GQ magazine Stars of Hollywood, high-tech open wallets for Obama party Tough times seen ahead for British, Japanese economies Woolworths to close quarter of stores Australian 'mummy smuggler' arrested in Cairo View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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